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- New Zealand's trade balance posts NZD353 million deficit in August
New Zealand's trade balance posts NZD353 million deficit in August
Statistics New
Zealand reported on Thursday that the country’s trade balance recorded a
deficit of NZD353 million in August compared to an upwardly revised NZD447 million
surplus in the previous month (originally a NZD282 million surplus) and a NZD1.642
billion gap in the same month of the previous year.
According to
the report, goods exports rose 8.6 percent y-o-y to NZD4.4 billion last month,
with the increase being led by higher sales of aircraft and parts (+785 percent
y-o-y) and kiwifruit (+48 percent y-o-y). Meanwhile, goods imports tumbled 16
percent y-o-y to NZD4.8 billion last month. Vehicles and parts (-37 percent
y-o-y) led the decline in import values. Decreases were also recorded in petroleum
and products (- 36 percent y-o-y) and mechanical machinery and equipment (-14
percent y-o-y).
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